Ideas and analysis on money, markets and the world around us.
To market observers, gold appears ready to break into new high ground measured in all the major currencies. In fact, it is the currencies’ collapse in their values, rather than gold rising. Appreciating this distinction…
Read the articleWith Comex volumes dwindling to a trickle, traders in gold and silver markets are shutting down ahead of the Christmas break. In quiet markets this week, gold and silver drifted higher in tight liquidity. In European…
Read the articleSurely, it is now apparent that central banks are guilty of mismanaging the economy. By slashing interest rates to zero and in some cases to an unnatural minus figure, then flooding financial systems with…
Read the articleIn his press conference following the FOMC meeting at which the Fed Funds Rate was left unchanged, Chairman Powell spoke about the slowing of economic activity due to restrictive territory for interest rates. This…
Read the articleThe sharp decline in US Treasury bond yields anticipates a pivot in Fed policy, which appeared to be justified this week by Chairman Powell’s dovish tone. But in truth, the Fed is not in control of events. Given that it…
Read the articleIn the Far East on Monday, gold spiked up to $2146 and silver to $$25.90, when it was 18.30 EST on Sunday. It was short-lived, and a lack of follow through and profit taking rapidly took gold and silver back to below…
Read the articleFlying money was the Chinese term for paper credits between merchants in the Tang dynasty, adopted by Emperor Hien-Tsung as the first example of a government paper currency. Today, economists confuse flying money with…
Read the articleNo one is talking about the US trade deficit in the current fiscal year, but it is likely to be another record, bringing with it new rounds of trade sanctions and protectionism. In this article, I explain why the twin…
Read the articleGold and silver continued to rise this week, with gold bursting through the $2000 level, and silver $25. In European trade this morning, gold was $2042, up $42 from last Friday’s close, and silver was $25.20, up 93…
Read the articleAhead of a possible challenge on the $2000 level, gold consolidated recent rises this week, and silver held up well. This morning in European trade, gold was $1995, up $15 from last Friday’s close, and silver was…
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